Diamondback Energy (NASDAQ:FANG) Price Target Raised to $238.00 at Truist Financial

Diamondback Energy (NASDAQ:FANG) had its price target boosted by investment analysts at Truist Financial from $236.00 to $238.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Truist Financial’s price objective would indicate a potential upside of 48.08% from the stock’s previous close.

FANG has been the subject of a number of other reports. Mizuho dropped their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Piper Sandler lowered their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Morgan Stanley raised their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Benchmark restated a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $216.52.

Diamondback Energy Stock Up 2.5 %

Shares of NASDAQ:FANG traded up $3.97 during trading on Wednesday, reaching $160.73. 705,007 shares of the company traded hands, compared to its average volume of 1,977,426. The firm has a market cap of $46.93 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 1.22 and a beta of 1.86. The firm has a fifty day simple moving average of $165.82 and a 200 day simple moving average of $177.18. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy has a 1-year low of $152.00 and a 1-year high of $214.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Advocates Investment Management lifted its position in Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 55 shares during the last quarter. Lakewood Asset Management LLC increased its stake in shares of Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after buying an additional 60 shares during the period. West Family Investments Inc. boosted its holdings in Diamondback Energy by 3.4% in the third quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after acquiring an additional 61 shares in the last quarter. Magnolia Capital Advisors LLC lifted its holdings in shares of Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after purchasing an additional 64 shares during the period. Finally, Barden Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares during the period. 90.01% of the stock is currently owned by institutional investors.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.